February 3, 2008

Bank of England Trimming Directors

Over the last eight months, you might have noticed public criticism of the Bank of England and its effectiveness in executing policy. The chief has apparently decided that 16 directors is too many and is trimming numbers. The bank obviously recognizes its shortcomings in light of recent financial oversights and is making structural changes as well as a change in the chairman position. These changes could portend changes in other Federal Reserve or central banking systems as the market grows tighter and tougher. ~E.M.

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